[Updated] Most people pay big bucks to see competitive sports on the Rose Bowl gridiron and Tuesday was no different for the Bolton Foundation’s Annual “Throwdown” cornhole competition, where big players in the insurance industry competed with bean bags in hand to raise $160,000 cash to help local non-profits.

The tournament staged by the Bolton Foundation — the philanthropic arm of Pasadena insurance broker Bolton & Co. — also sent four local non-profits home with $10,000 checks each.

“We wanted to create an opportunity for our employees to give back to the community. Now, we’re sitting here in the Rose Bowl and the thing has blossomed into an amazing, all-day event,” said Bolton & Co. Chief Operating Officer Mike Morey.

The “Throw Down” is the largest fundraising event hosted by the The Bolton Foundation and has raised nearly half a million dollars since the foundation’s formation in 2014.

“There’s a huge need in Pasadena and the greater area. There are a lot of non-profits sitting right here in our own backyard and this is an opportunity not only for us to give money back, but it gives us an opportunity to get to know those organizations,” said Morey.

My Friend’s Place, Achieve Kids, Assistance League of Orange and Young & Healthy will be recognized as 2018 Bolton Foundation Beacons for the work they do and were scheduled to be presented with $10,000 grant funding checks during the event.

“What’s different about this year is just the explosion in growth now that the word has gotten out,” said Morey. “We had to turn teams away this year because we needed to get the program moving along.”

The Bolton Foundation recently launched its other philanthropic initiative, called the Impact Committee, which selects a different charitable organization to help out each month through different fundraising events.